The Value of a Property Manager
The Value of a Property Manager
There are several ways in which people can end up owning a rental property. They may have purchased it as a long-term investment or some may have inherited it. Many find out rather quickly that being a landlord is not all they thought it would be. Finding qualified tenants, chasing down rents and maintaining properties can be a pain in the assets. This is where a property manager can help.
Property managers take on the burden of the everyday tasks of operating a rental property. These can include securing tenants, background checks, property inspections, property maintenance, collecting rents, and even handling evictions. Some property managers offer complete hands-off services that take care of it all, including paying bills.
A good property manager will protect and enhance your investment. While they will charge fees for these services, you often can make those funds up in improving rental rates, better cash flow and more free time to do things you would prefer to do.
Rental property owners should recognize that investment properties are not properly covered under a traditional homeowners’ insurance policy. A homeowners’ insurance policy is designed to cover an owner-occupied property. If a portion of that property or another stand-alone property is being rented out, they need to look into rental property insurance. This will generally cover your property from issues like fire and storm damage, as well as damage caused by tenants. It will also likely include liability insurance to protect against lawsuits should someone get injured on your rental property. Some professional property managers will even require rental property insurance be in place on a property before they will take on managing it.
While we can’t assist you when it comes to locating a property manager, we can help find appropriate homeowners’ and rental property insurance. Contact us and let’s discuss your rental property. Our independent insurance agents will search our network of insurance companies to find the coverage you need. You make the ultimate choice.
If you own or are considering investing in a rental property, make sure you have all your bases covered. That may include pursuing a professional property management company, and it should include securing proper rental property insurance. We would be honored to assist you.
Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder
Search All Blogs
Search All Blogs
Read More Blogs
Your Perfect Beach Day: Tips for Effortless Fun in the Sun
Easy tips for a perfect, stress-free beach day.
Peace of Mind for Your Business: Key Moments When Insurance Pays Off
Business insurance: essential protection for common challenges.
Navigating Life Insurance: 5 Common Mistakes to Avoid for Your Financial Future
Avoid these 5 common mistakes when buying life insurance.
Your Car’s Health Check: A DIY Guide to Safety and Maintenance
Simple DIY car checks for safety and maintenance.
Budget-Friendly Home Upgrades: 4 Ways to Boost Your Home’s Value and Appeal
Boost home value on a budget with these 4 DIY upgrades.
From Cutting-Edge to Clutter: Modern Antiques Hiding in Your Home
Uncover the surprising “antiques” in your tech drawer.
Unlocking Customer Loyalty with Smart Data
Turn customer data into your business superpower.
Is There an Age Limit for Life Insurance? Understanding Your Options
The truth about age and life insurance eligibility.
5 Automotive Icons That Sounded Destined for Greatness
Uncover the powerful names behind legendary cars.
7 Surprising Facts You Didn’t Know About Home Insurance
Unexpected insights into the world of home and renters insurance.